Coinbase Creates Advisory Board to Study Quantum Computing Risks to Bitcoin

As advances in quantum computing force blockchain developers to revisit long-standing security assumptions, Coinbase said Thursday it is convening an independent advisory board to address how to protect blockchains like Bitcoin and Ethereum from future quantum machines.

While quantum computers capable of breaking modern cryptography do not yet exist, researchers have warned that transitioning global financial and blockchain systems to new cryptographic standards could take years, prompting some firms to begin planning well before the technology becomes a reality.

“Quantum computing is advancing, and while we don’t believe it poses an imminent threat to crypto today, the reality is that upgrading global networks and security standards takes years,” a Coinbase spokesperson told Decrypt. “We’re formalizing this Advisory Council now so the ecosystem can plan early, evaluate the evidence responsibly, and coordinate on pragmatic steps that keep blockchain infrastructure resilient over the long term.”

The advisory board includes University of Texas at Austin professor Scott Aaronson; UC Santa Barbara Foundations of Fintech Research Lab head Dahlia Malkhi; Stanford cryptographer Dan Boneh; Ethereum Foundation researcher Justin Drake; University of Washington associate professor and EigenLayer founder Sreeram Kannan; and Coinbase Head of Cryptography Yehuda Lindell.

“I joined the advisory board because it sounded like an opportunity to provide factual guidance on something extremely important, and because they needed people who work in quantum computing,” Professor Aaronson told Decrypt.

Coinbase said the advisory board will publish papers assessing quantum-related risks, issue guidance for users and developers, and provide independent analysis following significant developments in quantum computing.

“No one actually knows how much longer we have until quantum computers are able to break current public-key cryptosystems, which could plausibly be anywhere from a few years to a few decades,” Aaronson added. “ What’s clear is that we do need to be thinking, right now, about the transition to post-quantum cryptosystems, and that we need the ability to react to future events as they happen.”

From theory to practice

While today’s quantum computers remain too small and unstable to threaten blockchain networks, developers no longer view the risk as purely theoretical.

Bitcoin and Ethereum rely on elliptic-curve cryptography, which researchers say could be broken by sufficiently powerful, error-corrected quantum machines using Shor’s algorithm, allowing attackers to derive private keys from public ones.

In response, developers across major networks have begun exploring post-quantum cryptographic approaches and migration paths, including hybrid signature schemes and staged upgrades, even as they debate trade-offs around performance, coordination, and timing.

Ethereum co-founder Vitalik Buterin has argued that protocols should adopt quantum-resistant cryptography well before the threat becomes practical, while others, including Cardano founder Charles Hoskinson, have warned that moving too quickly could significantly slow networks without adequate hardware support.

Quantum researchers say the announcement reflects this increasing pressure on financial and technology firms to develop for post-quantum security as governments move to formalize new cryptographic standards.

Anastasia Marchenkova, a quantum researcher and advisor to post-quantum cryptography firm BTQ, told Decrypt the announcement follows growing questions about how Coinbase intends to approach quantum technology.

“So this popping up was very timely. I’m glad Coinbase is looking at it, because this is really important for the longevity of cryptocurrencies,” she said.

Marchenkova said that while discussions about quantum threats are not new to crypto, they have taken on new urgency as regulators move to formalize post-quantum standards. She noted that skepticism remains about the timelines for practical quantum computing, adding that “this is not going to be an easy process.”

However, Marchenkova said the advisory board’s mix of academic and industry expertise addresses a central challenge of cooperation in post-quantum security planning.

“These aren’t just Coinbase people, and they’re not just researchers; they’re also cryptocurrency experts,” she said. “That’s important, because one of the biggest challenges in post-quantum security is bringing together people who understand quantum computing with people who understand cryptography and real-world systems.”

As a publicly traded company, Coinbase’s decision to openly address quantum risks carries weight in and outside of the crypto sector, Marchenkova said, as banks and infrastructure providers increasingly incorporate post-quantum threats into their security planning.

“Each additional person and entity that starts talking about post‑quantum security is another signal that people are considering it,” she said, noting that Coinbase is a name even non‑crypto people recognize, which can help bring the quantum conversation closer to everyday crypto users.

“If you’re going to start looking into cryptocurrency, Coinbase is a name that pops up for everyone,” Marchenkova said. “This announcement is a first step toward saying this might actually affect you in some way, so let’s start talking about it.”